Magyar Bancorp, Inc. (NASDAQ:MGYR – Get Free Report)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $18.34 and traded as high as $19.22. Magyar Bancorp shares last traded at $19.22, with a volume of 293 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on Magyar Bancorp
Magyar Bancorp Stock Up 3.5%
The firm has a market capitalization of $128.55 million, a P/E ratio of 10.64 and a beta of 0.29. The firm’s 50-day simple moving average is $19.38 and its 200-day simple moving average is $18.35.
Magyar Bancorp (NASDAQ:MGYR – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.49 EPS for the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.59%. The firm had revenue of $10.25 million for the quarter.
Hedge Funds Weigh In On Magyar Bancorp
Large investors have recently added to or reduced their stakes in the business. M3F Inc. boosted its position in Magyar Bancorp by 1.3% during the first quarter. M3F Inc. now owns 283,894 shares of the bank’s stock valued at $4,914,000 after buying an additional 3,544 shares during the period. BlackRock Inc. purchased a new position in shares of Magyar Bancorp in the second quarter worth about $359,000. Finally, Corient Private Wealth LP purchased a new position in shares of Magyar Bancorp in the second quarter worth about $698,000. Hedge funds and other institutional investors own 46.32% of the company’s stock.
Magyar Bancorp Company Profile
Magyar Bancorp, Inc is the holding company for Magyar Bank, a community bank headquartered in New Brunswick, New Jersey. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families and businesses.
Magyar Bank’s products and services include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans and lines of credit, consumer loans, commercial real estate financing and business loans.
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